OTP Bank Albania becomes part of the EBRD’s Trade Facilitation Program through a co-operation agreement signed today May 03, 2019. The bilateral agreement was signed by the Chief Executive Director of Banka OTP Albania, Mr. Bledar Shella and EBRD President Sir Suma Chakrabarti.
Corporate and Small and Medium Enterprises (SMEs) in Albania, which are active in trade with other Western Balkan countries supporting green economy and high performance technologies and services, will benefit from this agreement through a line of up to EUR 10 million for Trade Finance, part of the EBRD’s Trade Facilitation Program.
Part of this agreement is also the one of EUR 50 million for sharing the financing risk between OTP Bank Albania and EBRD. Through this program, Corporate and SME enterprises in Albania will benefit from financing opportunities, enabling OTP Bank Albania to meet the financial needs of these business segments.
At the start of OTP Bank’s entry into the Albanian market, this agreement goes in line with OTP Bank’s intentions to increase co-operation with each partner which enables the increase of lending, credit and business insurance, as well as favoring the lending process that enhances the quality of the economy and living standards in the country.
OTP Bank Albania is the fifth largest bank in Albania in terms of assets and ranks fourth in the country for the loan portfolio. With a steady growth over the years, OTP Bank Albania currently has 677 million euros in assets and a network of 35 branches throughout Albania with the aim of expanding it.